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Jeevan Surabhi (Money Back Policy With 25 Years Fixed Term)


Jeevan Surabhi


Table. 108
(Money Back Policy With 25 Years Fixed Term)


Jeevan Surabhi is an improved version of Money Back Plan with an added element of increasing  term insurance cover.  The survival benefits received by the policy holder takes care of his short term financial needs like buying   house hold durables or any such needs like  educational expenses of children. The regular increase in life risk cover available to the policy holder without  payment of extra premium or even without under going other formalities like medical exams or special medical report.

After some time, after taking the policy, the policy holder may be in need of more insurance due to increase in responsibility like expanded family, increase in liability or income in which case he may have to take a new policy after fulfilling all the formalities  like medical examination. In case of Jeevan  Surabhi , this hassle of taking the new policy is avoided.

The shorter premium paying term helps the policy holder to restrict the payment of  premium to his productive years and simultaneously continue the life risk cover to desired age, depending on the needs of the family. The survival benefit received  may be reinvested. If not required at that moment, in any safe and high interest yielding investments so that one can have handsome amount  at the end of the policy term. 

Benefits

Ø  Survival Benefits:
ü  The following table shows the survival benefit payable to the policy holder  for 1 lakh sum assured.

At The End Of
Amount Receivable
4 Years
Rs. 20,000
8 Years
Rs. 20,000
12 Years
Rs. 20,000
15 Years
Rs. 20,000
18 Years
Rs. 20,000


Ø  Death Benefit:
ü  In case the policy holder dies before the term of the policy, the sum payable to the nominee is according to the following table:


Years
Benefit
0 To 5 Years
Only Sum Assured
6 To 10 Years
1.5 Times Of Sum Assured
11 To 15 Years
2 Times Of Sum Assured
16 To 20 Years
2.5 Times Of Sum Assured
21 To 25 Years
3 Times Of Sum Assured


ü  The survival benefit already paid will not be deducted from the death claim.

Ø  Mode Benefit:
ü  The following table shows the rebate available on the mode of premium payment.


Mode
Rebate
Yearly
3% of tabular premium
Half - Yearly
1.5% of tabular premium
Quarterly
Nil


Ø  Sum Assured Benefit:
ü  The following table shows the rebate available on the sum assured.


Sum Assured
Rebate
Up To Rs. 50,000
Nil
Rs. 50,001 To Rs. 1,00,000
Re. 1 Per Thousand
Rs. 1,00,001 And Above
Re. 2 Per Thousand



Features
Ø  Minimum Sum Assured - Rs. 50,000/-

Ø  No Maximum Limit

Ø  Minimum age at entry - 14 years

Ø  Maximum age at entry - 45 years

Ø  Maximum age at maturity -70 years

Ø  Modes Allowed - All

Ø  Non Medical Special   will be entertained   with restriction

Ø  Housing Loan available

Ø  Premium Paying Term is 18 years. The shorter premium paying term helps the policy holder to restrict the payment of the premium to his productive years.

Ø  Age Proof Compulsory